IDFC First Bank has brought a New Year Gift for Savings Account Customers. With effect from January 1, 2021 Now IDFC Savings Account customers will earn 7% interest on balances up to Rs 1 lakh instead of 6% earlier. This is 100 bps gain for customers as minimum ceiling for 7% yield was capped at 1 Lakh earlier. Thus, all customers up to 1 Crore saving account balance can enjoy best returns with IDFC First Bank.
Amid present low rate regime, where most leading public and private sector banks are offering 3% to 4% interest, IDFC Bank’s Saving Account is much beneficial for customers.
The bank has further changed other interest slabs, as under:
Saving Account Balance
Rate of Interest (% p.a.)
Up to Rs 1 Crore
7
Above Rs 1 Crore to Rs 5 Crore
5
Above Rs 5 Crore to Rs 10 Crore
4
Above 10 Crore
3.5
*Interest is calculated on progressive balance in each slab.
IDFC First Bank was originated after merger of Capital First and IDFC Bank in December 2018. It is a scheduled commercial bank with a market cap of around Rs 22,500 crore and has a robust network of 260 branches. The bank is listed on the stock exchanges that year.
Updated On Jul 20, 2026
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Written By Priyanka JainContent WriterLoans & Credit Cards
Priyanka Jain is a seasoned Omni-channel content specialist, recognized as ‘top 50 content marketing professional-2019’ by World Marketing Congress, CMO. She is an enthusiastic personal finance blogger and writes actively on credit rating, loans, credit cards, insurance, and mutual funds. At MyMoneyMantra, she supports MMM’s core vision to simplify credit decisions and spread financial literacy.
